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| Exchange Received Time 03/10/2017 18:33:27 Exchange Disseminated Time 03/10/2017 18:33:31 Time Taken 00:00:04 | Subject: Updates on Scheme of Arrangement
Dear Sir,
In continuation to the Update dated August 17, 2017, please note that Hon'ble NCLT Chandigarh Bench vide its order dated September 27, 2017 has noted that as per the report of Chairperson, the meeting of secured creditors failed and hence the said Petition was rendered infructuous. However, the Court stated that the Company was at liberty to file fresh petition/application.
Please take note that the Company is in regular correspondence with its bankers to seek their no objections so that further application could be filed with Hon'ble NCLT.
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